Oil major Shell and the National Iranian Oil Company (NIOC) have reached a final deal on how the Anglo-Dutch company must clear its debt of $2.3billion outstanding since 2011.
The head of the NIOCs international affairs, Mohsen Qamsari, said the two sides had reached an agreement on a mechanism after several round of negotiations.
Oil major BP has gone back to the US Circuit Court of Appeals in New Orleans in a bid to try and get back some of the money it has previously paid out to businesses.
The company wants restitution for some of the cash it paid to businesses as part of a 2012 settlement.
